Construction financing - follow-up financing experiences?

für Laien ist es nicht nachvollziehbar..

With all banks, you can get out of the loan after 10 years... not with L-Bank...

A termination is a declaration that must be received by the termination recipient to be effective. Although the declaration does not require a specific form, for security reasons we recommend at least text form.

The right to terminate is governed by law and contractual arrangements. When and for what reasons you or L-Bank are entitled to terminate the loan can be found in your loan agreement and the general terms and conditions.

However, you should be aware that during a fixed interest rate period on a loan with a fixed nominal interest rate, you generally cannot terminate the loan or termination is only possible at the end of the fixed interest period. The non-terminability before the end of the fixed interest period is the fair consideration for the long-term interest rate security. The law makes the following exceptions to this principle for loans with a fixed nominal interest rate:

- In any case, you can terminate the loan with a fixed nominal interest rate, in whole or in part, after 10 years have passed since the full receipt of the loan (full disbursement of the net loan amount) with a termination notice period of 6 months. From this point on, you can therefore declare the termination, but you must comply with a notice period of 6 months. In the event that, after full receipt of the loan, you have entered into a new agreement regarding the fixed interest rate period or the repayment period, the time of the new agreement shall replace the time of full receipt for the calculation of the 10-year point.